Property in Bulgaria

Of the property market in Bulgaria next year we can expect a reduction of prices within 5-10%. This will happen if interest on mortgage loans continue to grow and prices remain sluggish.
The credit crisis has reached Bulgaria in early April, but it affects Bulgaria less. Precisely because bulgaria's economics is not so dependent on the state economy as the United Kingdom for example, in our expected a smaller drop in prices of property.

Reduction of prices, which recently observed, associated with keeping prices in smart election by the buyers. There is also the accumulation of effects - interest on deposits increased, but they eat are from inflation, and problems affecting the stock market in the country. Despite all of these factors, however, Bulgarians is pragmatic - it will always invest in property, considered Strahil Ivanov. In his buyers in the market should focus on good investments in real estate - the combination of good location and quality performance - that will bring profit.

Currently the market in the capital to buy all the properties to 900 euros for square and expensive properties over 1200-1500 euros. The average price varies between 900 and 950 euros square meter. In 1997 Bulgaria concluded 65 thousand transactions for the purchase of property in 2007 the figure was 320 thousand Of which, however, including agricultural land, citing statistics Ivanov. Still increased interest in housing expert panel commented in the Bulgarian tradition to live in neprezastroena environment in kindergartens and schools nearby, and green areas. According to him, but we can expect a drop in demand in this segment because the panel buildings are not long-term investment. One reason for this is that our sanitation is not practiced, but only Cool, which does not extend the life of the building.

Foreigners seeking property in Bulgaria are mainly from the former Eastern bloc, Greece and Romania, which increased, it is important local interest. Invest in our country and Israelis, Britons have been started to withdraw from the market before year and a half. Strahil Ivanov indicated some of the surprises of home real estate market - trend of rising prices on line in the Black Sea and the unabated interest in the market in Bansko.

"Only for a day we did profitable transactions for over 800 000 leva" said a headline in the leading newspaper "Shoumen zarya" mayor of Shumen Krasimir Kostov.

In Shoumen were sold municipal property and land totaling 808 000 leva. According to the Shoumen's mayor Krasimir Kostov, who is very satisfied.

The biggest deal is 460 000 leva to the site of 3 hectares at the old rendering plant, sold by the company "Primeks.

About 275 000 leva has sold the right of construction with building a developed area of 135 square to the old court, a buyer is an individual.

Only 73 000 against the euro Company NV Formula plus "became the new owner of the property of st." Sofia road.

The Shoumen company Tesy bought a car park for 1 250 000 leva which became the biggest investor for the municipality.

As the successor company of Ficosota, Tesy won the competition for the municipal parking lot too. Astra Center, has given the price fixed by the Municipal Council. Moreover, it was the only participant in the competition.

This money is only the beginning of the implementation of the investment company wants to build a parking place MOL and with a minimum of 70 seats and draft a pedestrian overpass connecting the area south of Blvd. "Simeon the Great" by Kooperativniya market.

The mayor of the town Mr. Kostov believes these sales, which Shumen municipality has been able to realise only for a day, as a good indicator that investment activity in Shumen is high and interest in cities is obvious.